The New York Giants were thought to be strapped of cash after signing multiple players to three-year contracts with front-loaded money. However, the true cap breakdown was provided by ESPN’ Jordan Raanan, as he stated:
As noted in here, #Giants did in fact use signing bonuses for their top FAs. They quickly amended the original structure to deals for James Bradberry ($9M signing bonus, $3M roster bonus) + Blake Martinez ($6M signing, $4M roster). Provides more cap space than has been reported.
Converting large chunks of cap into signing bonuses has allowed Big Blue to clear some room in case they want to go after another talented free agent.
Official cap space by team (12-23)
12. BUF: 26,539,939
13. JAX: 22,808,288
14. MIA: 22,682,552
15. CHI: 21,798,5871
16. NYG: 19,556,709
17. CAR: 16,832,122
18. LAR: 16,357,084
19. LV: 15,285,765
20. SF: 15,064,239
21. TB: 14,836,167
22. ARI: 14,383,375
23. CIN: 13,657,810
— Field Yates (@FieldYates) March 30, 2020
ESPN’s Field Yates stated that the Giants have nearly $20 million in cap available, which would open up the opportunity for them to retain Markus Golden on a reasonable deal. Now, it’s important to note that GM Dave Gettleman prefers to have leftover cap going into the season, and they must keep at least $10 million for rookie contracts.
They may sign another player, specifically at the pass rusher position, but it seems as if they’re playing the waiting game to see what other teams are doing before the draft. Any indications of movement could lower projected yearly earnings for free agents or increase their value. A lot depends on the draft choices of the Washington Redksin and Detroit Lions for the Giants, so getting a clearer picture of what they might do should help in making contractual decisions.
Golden’s market is fascinating, as you’d think he would have developed some interest from teams looking for a 3-4 outside linebacker. Coming off a lesser 2018 campaign, he bounced back with 10.0 sacks in 2019 and showed his ability to get after the quarterback consistently. The Giants could be waiting to open up enough cap for him, but things seem to be at a standstill. There are other spots on the roster than need more depth, which is where the available cap could come into play.